Amidst China-US Trade Friction, ASEAN Companies Seek Business Opportunities in Mainland China.

Welcome to AsianQuicktake! In this video, we will explore the strong economic cooperation and mutually beneficial relationship between China and the Association of Southeast Asian Nations (ASEAN). Established in the late 1960s, ASEAN comprises 10 member countries, including Singapore, Malaysia, Thailand, Indonesia, the Philippines, Brunei, Vietnam, Laos, Myanmar, and Cambodia. China’s support during the Southeast Asian financial crisis in 1997, along with its responsible attitude, earned widespread praise and elevated regional relations. Over the years, China has actively assisted ASEAN in overcoming difficulties and importing products from ASEAN countries. This led to the proposal of the China-ASEAN Free Trade Area and increased cooperation. ASEAN plays a crucial role in China’s export market, and the region benefits from the development of the massive Chinese market. Political relations between China and ASEAN have recently consolidated, with joint statements issued covering important areas such as economic cooperation and the Belt and Road Initiative. ASEAN’s strategic position in the Belt and Road Initiative has made it a successful example of collaboration. To circumvent trade barriers set by the United States, many Chinese companies have established factories in Southeast Asia. ASEAN’s commitment to building an economic community and its massive market with a population of 650 million attract Chinese companies, expanding the scale of the international market. ASEAN maintains relative peace and implements a policy of balanced diplomacy among major powers. The region has established comprehensive strategic partnerships with Australia, China, the United States, and India. ASEAN conducts global dialogues and consolidates relationships with various parties. In terms of economic growth, ASEAN countries like Malaysia, Thailand, Vietnam, and the Philippines have achieved impressive growth rates. Many surveyed enterprises in the ASEAN region express their interest in expanding business in mainland China, while Chinese companies plan to expand operations in Southeast Asia. Trade volume between China and ASEAN has grown significantly over the years, reaching $ billion in the first 11 months of 2021. Bilateral investments have also exceeded $310 billion, making ASEAN one of the fastest-growing regions for Chinese outbound investment. With the implementation of the Regional Comprehensive Economic Partnership (RCEP), cross-border trade between China and ASEAN has gained renewed vitality. Over 40% of Chinese enterprises plan to expand in Southeast Asia, while nearly 40% of ASEAN enterprises are interested in expanding in mainland China. In the face of global supply chain tensions, China and ASEAN address challenges by establishing robust supplier relationships, digitalizing supply chain management, and ensuring supply chain stability. As China’s economy advances towards high-quality and sustainable development, enterprises prioritize sustainable transformation, cost reduction, efficiency enhancement, and diversifying financing channels. Banks provide support through various product combinations to assist enterprises, especially small and medium-sized ones. In conclusion, economic cooperation between China and ASEAN is growing closer, with progress in trade, investment, and supply chains. The implementation of the RCEP will further deepen China-ASEAN cooperation. Both Chinese and ASEAN enterprises actively explore business opportunities, ensuring stability and sustainable development in the face of global challenges. Stay tuned for more updates on the dynamic relationship between China and ASEAN on AsianQuicktake! 💯TOP 3 Video Swiss Sells $36.4 billion U.S. Treasuries ▶ Africa Rejects US’ Blank Check ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ COPYRIGHT DISCLAIMER Asian Quicktake Doesn’t Fully Own Some of the Materials Compiled in Its Videos. It Belongs to People or Organizations Who Ought to Be Respected. If Used, It Falls Under the Following Provisions: Copyright Disclaimer Section 107 of the Copyright Act 1976. “Fair Use“ is Allowed for Purposes Such As Criticism, Comment, News Reporting, Teaching, Scholarships, and Research. ━━━━━━━━━━━━━━━━━━━━━ ✅ If You Are the Owner of the Materials Used in This Video, Let us Know in the Comments or Send a Email to me. We Will Follow Your Request Immediately. ━━━━━━━━━━━━━━━━━━━━━ ✅ FINANCIAL DISCLAIMER This Channel’s Content Should Not Be Interpreted or Construed As Financial Advice. We Are Not, and Do Not Claim to Be, an Attorney, Accountant, or Financial Advisor. This Channel’s Content is Not a Substitute for Financial Advice and is Solely for Entertainment Purposes.